Virginia Commonwealth University

The committee reviewed proposals to establish a Bachelor of Science in Public Health and a Master of Science in Pharmaceutical Engineering, as well as a proposal to close the Bachelor of Science in Education in Health and Physical Education. The committee also received an executive report on leveraging artificial intelligence across the university enterprise, covering applications in clinical care, research, and data-driven operational efficiencies.

The board conducted an annual enrollment and budget workshop. Key topics included discussions on VCU's current financial position, enrollment strategies aimed at stabilizing headcount, student success metrics such as retention and graduation rates, and the impact of unfunded state mandates on the university's budget. The board explored various tuition rate options and their implications for resource allocation, including potential investments in internships, academic programs, and graduate stipends. Additionally, the presentation covered the economic impact of the university, credit rating considerations, and adjustments to mandatory fees and auxiliary services.

The meeting focused on several key financial and administrative agenda items, including contract approvals for mail and transportation services, a government relations update regarding the state legislative session and federal spending, and a detailed budget and development update. The committee convened in a closed session to discuss gifts, bequests, and fundraising activities before returning to open session to certify the discussion and approve named funds. Additionally, the committee reviewed performance analyses, financial statements, and dashboard metrics related to university operations, debt management, and investment performance.

This document outlines Virginia Commonwealth University's strategic initiatives aimed at advancing enrollment and student success. Key focus areas include enhancing student development, investing in emergent and interdisciplinary academic pathways, elevating graduate education, and reimagining undergraduate education. The presentation details strategies for optimizing enrollment drivers, improving student retention and graduation rates, and driving academic value. It further addresses financial planning, including budget allocations, fee structures, and the impact of state funding and military waivers, with long-term goals such as achieving 30,000 enrolled students by Fall 2028 and a 75% freshman acceptance rate by 2030.

The joint board meeting focused on two primary initiatives: enterprise-wide efforts to improve pedestrian safety and a comprehensive economic impact analysis. Regarding pedestrian safety, the discussion covered a multi-pillar strategy incorporating engineering enhancements, traffic enforcement, education, and data evaluation, all aligned with the City of Richmond's Vision Zero initiative. Additionally, the boards reviewed an economic impact report highlighting the significant financial contributions of both the university and the health system to the Richmond metro area and the Commonwealth, including job creation, alumni earnings, and taxpayer return on investment.